13-3-2025 – The world’s leading cryptocurrency continues to encounter formidable headwinds at the $84,400 threshold, despite showing signs of recovery from its recent four-month trough. The digital asset’s repeated attempts to breach this crucial level have thus far proved unsuccessful, marking a challenging period for cryptocurrency investors.
Market sentiment received a modest boost following the latest American inflation figures, which painted a more optimistic picture than analysts had anticipated. The Consumer Price Index registered a mere 0.2% uptick for February, with the yearly rate settling at 2.8%, outperforming market forecasts. Similarly encouraging data emerged from the core inflation readings, potentially setting the stage for a shift in Federal Reserve monetary policy.
Technical analysis reveals mounting pressure at the critical juncture where the 50-period Exponential Moving Average intersects with price action on four-hourly charts. The Asian trading session witnessed yet another failed attempt to surpass this barrier, with values retreating towards $83,000, highlighting persistent bearish sentiment.
The recent market turbulence triggered a wave of disposals from short-term investors, driving values to $76,600 before staging a spirited 6% recovery. However, this rebound has thus far failed to generate sufficient momentum to overcome established resistance levels.
Should the current market dynamics persist, analysts suggest $80,000 emerges as a crucial support level to monitor. Conversely, a decisive push above the current resistance could pave the way toward the psychologically significant $90,000 mark, though substantial buying pressure would be required to achieve such a milestone.
The intersection of technical indicators and macroeconomic factors has created a complex trading environment, with market participants closely monitoring Federal Reserve communications for hints about future interest rate trajectories. Traditional wisdom suggests that looser monetary policy typically benefits risk assets, including cryptocurrencies, though recent price action indicates other factors may be exercising greater influence over Bitcoin’s immediate prospects.
